Which of the following statements describe the conduit theory of taxation? a. a fund is not taxed on earnings it distributes provided distributions equal 90% or more of net investment income. b. earnings distributed by a regulated investment company are taxed three times. c. dividends and interest are passed through to the investor without the fund being taxed. d. dividends and interest accumulate tax free to the shareholder.

What is the relationship between the national response framework and the national incident management system (nims)? a. the national response framework replaces the nims, which is now obsolete. b. the response protocols and structures described in the national response framework align with the nims, and all nims components support response. c. the nims relates to local, state, and territorial operations, whereas the nrf relates strictly to federal operations. d. the nims and the national response framework cover different aspects of incident management—the nims is focused on tactical planning, and the national response framework is focused on coordination.